Oppenheimer lowered the firm’s price target on Salesforce (CRM) to $380 from $415 and keeps an Outperform rating on the shares. The firm notes Salesforce’s Q4 results had a low magnitude of upside, and management issued a tepid outlook for FY26. As expected, negative FX is weighing on the company’s financials, and the initial FY26 guidance could reflect a greater level of conservatism from higher execution risk with so many new leaders starting in FY26.
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